Benefits from Ownership of Intellectual Property

The ownership of the IP and the right to use it are important considerations because they can confer a competitive advantage.

Where the results of a project enable the creation of a product with unique characteristics that is attractive to customers, ownership of the IP, or the exclusive right to use it, provides protection for the investment made in developing the product and taking it to market.

The ownership of the IP and right to use it are becoming increasingly important to universities in the UK as the government seeks a greater return on the monies invested in publicly-funded research. The right to use IP may also be important to future research at the university, and to the university fulfilling its charitable objectives. Equally knowledge transfer and the engagement of universities with industry is acknowledged to be important to the economy of the UK and Europe.

It is clear from the above that ownership of IP in the results of the project and the rights to exploit it will be one of the key elements of any research collaboration agreement. The potential value of such ownership and rights will vary according to the nature of the IP, the nature of the rights and the market for its exploitation. For the same invention, an exclusive right to exploit it worldwide in any field will be worth more than a non-exclusive right to exploit it limited to a particular field of use and/or a limited geographical market.